Companies in New Hampshire are taking out loans underneath the second spherical of the federal paycheck safety program at a gentle charge, however slowly declining, based on the most recent report from the U.S. Small Enterprise Administration.

In the course of the newest reporting interval (Feb. 7-15), the SBA accredited 1,273 New Hampshire loans totaling $ 108 million, bringing the whole up to now to 7,341 circumstances for $ 704 million. In the course of the intentionally sluggish rollout (January 11-24), Granite State firms took out $ 233 million in loans.

The typical mortgage quantity has additionally decreased. The typical mortgage quantity in New Hampshire began at $ 108,000 however is now $ 96,000. That is nonetheless above the nationwide common of $ 75,000, which can be declining.

There’s nonetheless some huge cash left within the $ 284 billion program. As of February 15, practically 1.7 million US firms had obtained $ 125 billion in loans. This system is because of expire on the finish of March.

The overwhelming majority of second-round debtors go for his or her second mortgage, based on one other SBA report on Feb.11 information. At the moment, lower than $ 10 billion out of $ 115 billion went to debtors for the primary time. It’s not identified how a lot of this quantity went to newly eligible companies and organizations, reminiscent of commerce associations and chambers of commerce.

As well as, as of February 11, greater than 5 million companies throughout the nation with loans totaling $ 521 billion have requested cancellation underneath the primary spherical of the PPP and 1.6 million with loans totaling 142, 6 billion {dollars} have been granted to him. The businesses have been denied the $ 420 million pardon. Roughly 189,000 forgiveness requests price $ 76 billion are nonetheless pending, and roughly 3.4 million enterprise requests totaling over $ 300 billion in PPP loans have but to be submitted.